$SPy still having a lot of dip buyers at every support. Very confusing market action. The current trend still looks negative, but a lot of stops being filled from long and short. Too much chopness again so even if I think that...
Read MorePre-market update (updated 7:30am eastern): European markets are trading -0.8% lower. Asian markets traded -0.8% lower. US futures are trading moderately lower. Economic reports due out (all times are eastern): Import and Export...
Read MoreWe might just get the pull-back, everyone was expecting. After a week of running wild like a carriage on fire, we finally dropped a big bucket of water and we will probably head down a bit. The $SPY is currently @ 139.99 as I...
Read MoreThe Chart of the Day… Quick Glance at the Market Heat Map and Industries Notables: Similar to yesterday, not a lot of consistency on the board – sporadic all around. Read more…
Read More$SPY pretty much stuck in a range. I had one successful short in $CAT, and all the other trades were break even. There aren’t really any news out there, good or bad, but the trend is holding up. I am not sure until when we...
Read MoreQuite the chop-fest today in the markets, but overall, the bears just can seem to slow down the bulls from pushing this market higher, and now that we are staring at fresh recovery highs, the bulls couldn’t be happier. I...
Read More$SPY did something interesting. If you guys open a SPY 5 min chart just before the market opened one would have noticed that the $SPY was going to open around 140.20. One could have interpret that an open @ 140.24 (and if it...
Read MoreThe thing about stocks like OSUR that has a well defined downward trend-line close to your entry, is that it offers a legit trailing stop-loss that you can use, in that each day, the stop gets tighter and tighter, and the trade...
Read MoreIt didn’t take me much time this morning to add a new position, and I did so by shorting Hawaiian Electric (HE) at $28.44. The stock is forming a very nice head and shoulders pattern this morning, and the only drawback to...
Read More$SPY opening flat after US data shows that jobless claims unexpectedly fell, down by 6,000 to 361,000; trade deficit narrows in June to $42.92 billion Vs. $48.04 billion in May. From what I have noticed on the past 3 days is a...
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